Calculating the Cost of Downtime

IT projects, especially projects that do not provide a direct business improvement, can be challenging to get approved. Despite all the development in security technologies, statistics keep showing a grim picture. Unfortunately downtime is an expected aspect of doing business today. The only way to mitigate the risk is to be prepared and have a Last Line of Defence security technology in place to detect, stop, react and recover, before your company comes to a complete stop.

Choose your currency, to start the easy calculator for tangible cost of downtime – in order for you and your executives to be aware of the possible risks.

A company’s reputation and bottom line becomes vulnerable when a malware has harmful impact on your organization. This includes revenue, service level, suppliers, financial markets, stocks and business partners as well as compensatory payments for delays and GDPR embarrassment/payment etc.

The expenses and losses associated with downtime continue to climb in the Internet age where business is conducted 24 x 7 across global time zones.

The average cost of downtime in individual industries, is dependent on various areas. The monetary losses vary when you consider your revenue, industry, the actual duration of the outage, the number of people affected, the time of day, etc.. Losses are significantly higher per hour for businesses that are based on high-level data transactions, like financial institutions, shipping companies, manufacturers, online retail sales and the public sector etc.. If you experience an unplanned outage during a peak traffic time, clearly the damage will be more significant.

Appropriate calculation of downtime might help your organization’s decision on a future extra layer of security with a Last Line of Defence solution.